Descartes acquires Portrix Logistics Software
Descartes Systems Group has acquired Portrix Logistics Software, a leading provider of multimodal rate management solutions for logistics services providers (LSPs).
Headquartered in Germany, Portrix has been helping its customers streamline and automate complex global shipping rate management processes for more than 10 years. The company's core product, Global Price Management (GPM), is used by customers to enable global shipment routing, pricing, rating and capacity allocation management.
"Automated rate management tools are critical for LSPs looking to digitize the customer experience," said Henning Voss, co-founder of Portrix and now VP Product Management, Rate Management Solutions at Descartes. "As the momentum for digitization accelerates, the demand for our solutions continues to grow. In particular, we've seen an increase in demand for an integrated Descartes Kontainers-Portrix solution, making the decision to combine with Descartes a logical next step for the business and our customers. We're looking forward to taking our existing partnership with Descartes to the next level."
Portrix is headquartered in Hamburg, Germany. Descartes acquired Portrix for approximately EUR 22 million ($US 26.7 million), satisfied from cash on hand.